"The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Mercedes-Benz Group China Ltd. (‘Mercedes-Benz') of China, controlled by Mercedes-Benz Group AG of Germany, and BMW Brilliance Automotive Ltd. (‘BMW') of China, controlled by Bayerische Motoren Werke AG of Germany," the press release read.
The newly-created joint venture will be dealing mainly in public charging infrastructure networks for battery-powered cars in China, the commission said.
Given its limited effect on the European Economic Area, the transaction will not pose any threat to fair competition, according to the press release.